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Elliott Wave Analysis TradingLounge Daily Chart

NEO/ U.S. dollar(NEOUSD)

NEOUSD Elliott Wave Technical Analysis

Function: Counter Trend

Mode: Corrective

Structure: Double Corrective

Position: Wave Y

Direction Next higher Degrees: Wave (II) of Impulse

Wave Cancel invalid Level: 9.85

Details: Wave (II) is equal to 61.8% of Wave (I) at 10.71 Level

NEO/ U.S. dollar(NEOUSD)Trading Strategy:
The second wave corrects before rising again in the third wave. In a Double Corrective pattern, the current state is a decline in Wave Y. So wait for the correction to complete to re-enter the uptrend.

NEO/ U.S. dollar(NEOUSD)Technical Indicators:
The price is below the MA200 indicating a Downtrend. The Wave Oscillator is a Bearish Momentum.

Elliott Wave Analysis TradingLounge H4 Chart

NEO/ U.S. dollar(NEOUSD)

NEOUSD Elliott Wave Technical Analysis

Function: Counter Trend

Mode: Corrective

Structure: Double Corrective

Position: Wave Y

Direction Next higher Degrees: Wave (II) of Impulse

Wave Cancel invalid Level: 9.85

Details: Wave (II) is equal to 61.8% of Wave (I) at 10.71 Level

NEO/ U.S. dollar(NEOUSD)Trading Strategy:
The second wave corrects before rising again in the third wave. In a Double Corrective pattern, the current state is a decline in Wave Y, so wait for the correction to complete to re-enter the uptrend.

NEO/ U.S. dollar(NEOUSD)Technical Indicators:
The price is below the MA200 indicating a Downtrend. The Wave Oscillator is a Bearish Momentum.

Technical Analyst: Kittiampon Somboonsod

Source: Tradinglounge.com

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